hey theschust (is that really you Joe B?), I suggest you look back 2, 3, 4, 5, 6, 7, 8, 9, 10,11,12, 13, etc years at the share price and then comment on "good management". And then take a look at the annual income packages. If this isn't an unethical story bordering on what I liken to white collar crime, in my opinion, then I am not sure what constitutes the same. A complete erosion of shareholder value while the family has sucked out millions upon millions in personal income. The argument of Sr buying some many shares doesn't hold up when you consider where he is getting the money to buy these shares.
This may get cut in half once the split happens. I think that their debt covenants do not allow for them to take the company private. I think if Sr owned this outright, he would not pay himself as much as he pays himself as the COB and CEO of a publicly traded company. These Burtons have lost a lot of people a lot of money, including his board members. When will they do the right thing for shareholders and have a coup? The greatest measure of a CEO of a publicly traded company, out side of community help, is the share price. And that speaks for itself!
I wonder what the boys got dear old dad for Father's Day? I hope it was something practical like Epsom salts and a pan to soak his angry feet in and a one year subscription to Jenny Craig. As you head in to work today think about this, If Sr makes $5 Million per year with 250 working days out of 365, he makes $20,000 per day or $2,500 per hour for an 8 hour day. Now, let's figure out how much time he really spends in the office during the week and recalculate. Enjoy your no raise, diminishing benefits, 401K joke, $13.25 per hour, etc.
I bet old pops got up today, gargled, spit, banged his chest and said "honey, let me go check the stock price on the new financing deal". Honey says, "where is it Mr Burton (she probably has to call him Mr Buron too). Mr Burton doesn't respond. Then she figures it moved lower on the news. She then thinks, I hope this gout greeder doesn't buy any more, we are looking so ridiculous at the country club, people stare when we walk in for dinner.
I said $.70 before you said $1.30. It hit $.77 today. I hope you loaded up and lost half your investment banking on these greed mongers. Supporting these guys is no better than being one of the family.
At $.76 now. If it closes at $.80 for argument sake, an 8:1 reverse stock split put's her at $6.40.
I predict that post stock split, she sinks to below $6.00. I wonder if Sr will pay himself a bonus for getting the share price above $6.00 ( he will ignore that the stock split).
Are you a relative to the geed mongers? One should never buy into a reverse stock split. Reverse stock splits don't happen for good reasons! They are typically desperate moves. Timberrrrrrrrrr.
Sounds very dilutive to me. Warrants represent 16% of outstanding shares so that being the case, aren't current shares capable of being watered down by, ummmmm, 16%? IMHO this new financing deal comes at a cost and isn't as rosey as they paint the picture to be. Time will tell, kids may be left with a bigger mess well after gout riddled pops moves on to the big Capital Grill in the sky.
Was it at Sr's house again? Was it BYOB, BYOF, BYOW again? Were all the sales managers parking cars again? Was Mrs. B prancing around in her shiff covered bikini? Sorry I couldn't make it but I had to clean the dog #$%$ up out of the yard.
Boyz,, this is pop. Can you hear me loud and clear? I need you fools to buy this morning, got it? And please post another business signing that means nothing. Just like the ones you posted about a month ago. I am having lunch with your mother today and I hope people don't keep starring at us again. Do you think they know what I have done to this company? I hope not. But I don't care cause I am hungry for a steak, gout or no gout!
Shorts are in control. We could bump $.50 today. Maybe Sr will die soon and this will fall on his spawn's shoulders. Interesting question will remain, are they as unqualified to run this company as their father?
He has lost a lot of people a lot of money and at this price, even will all the greed shares he owns, he may very well be near or below his breakeven. I am sure that the BOD are getting close too. Except probably the school principal and the UCONN President's BOD stipend. That is free money to vote yes for all of Sr's ideas, comp and survival deals. The UCONN business dept should do a case study on Cenveo. It ain't pretty!